Indian Railways’ company, Rail Vikas Nigam Limited (RVNL), has attracted significant attention from investors ahead of the Budget 2024. With a jump of over 60%, the stock has shown a robust rally in recent weeks. However, it has seen some sideways movement after the surge.
Despite the recent fluctuations, RVNL shares started positively on Tuesday at Rs 300.80 on NSE. It reached an intraday high of Rs 304.20 before retracing its gains and touching an intraday low of Rs 288.60, down by more than 2%. As of now, the stock is trading at Rs 294.45, with a cut of 1.54% at around 11:30 AM.
While the stock is witnessing a fall in the last two days, it is still trading above its 20-day, 50-day, 100-day, and 200-day moving averages but lower than its 5-day average. The delivery volume also declined by 61.88% against the 5-day average, indicating a decrease in investor participation.
Avdhut Bagkar, a Derivatives & Technical Analyst at StoxBox, highlights the importance of surpassing the hurdle of Rs 350 for RVNL shares to enter the next phase of upward movement. The support level to watch out for is at Rs 250, and a breach of this mark could affect the optimistic bias.
Despite the recent volatility, the stock has seen significant growth over the years. In 2024 alone, RVNL shares have zoomed by a staggering 62% and 89% in the past three months. Over the past year, the stock has delivered a massive return of 306%, making it a multibagger investment. In the last two years, it has multiplied investors’ money by 727%, and over three years, by an astounding 840%.
Considering the dividend aspect, RVNL shares currently offer a dividend yield of 0.72%. Looking at the dividend history, the company has consistently paid dividends in the past years. In 2023, it paid dividends twice, Rs 0.36 in September and Rs 1.77 in April. In 2022, the dividends were Rs 0.25 in September and Rs 1.58 in March. In the previous years, RVNL paid Rs 1.58 in 2021 and Rs 1.14 in 2020, respectively.
RVNL, as a constituent of the S&P BSE 500 index, boasts a market capitalization of Rs 61,466.39 crore as of January 30. While the current market trends indicate potential, it is advised to consult financial advisors before making any investment decisions.
FAQ:
1. What is Rail Vikas Nigam Limited (RVNL)?
– RVNL is a company under the Indian Railways that has attracted attention from investors.
2. What has been the recent performance of RVNL shares?
– RVNL shares have shown a strong rally, with a jump of over 60% in recent weeks. However, they have seen some sideways movement after the surge.
3. How did RVNL shares open on Tuesday?
– RVNL shares opened positively on Tuesday at Rs 300.80 on NSE.
4. What was the intraday high and low of RVNL shares?
– The intraday high of RVNL shares was Rs 304.20, while the intraday low was Rs 288.60.
5. Are RVNL shares trading above their moving averages?
– Yes, RVNL shares are trading above their 20-day, 50-day, 100-day, and 200-day moving averages.
6. What is the current price of RVNL shares?
– At around 11:30 AM, RVNL shares are trading at Rs 294.45, with a cut of 1.54%.
7. What is the support level to watch out for in RVNL shares?
– The support level to watch out for in RVNL shares is at Rs 250. A breach of this mark could affect the optimistic bias.
8. How much growth have RVNL shares seen over the years?
– In 2024 alone, RVNL shares have grown by 62%. Over the past year, the stock has delivered a massive return of 306%. In the last two years, it has multiplied investors’ money by 727%, and over three years, by an astounding 840%.
9. What is the dividend yield of RVNL shares?
– RVNL shares currently offer a dividend yield of 0.72%.
10. Has RVNL consistently paid dividends in the past?
– Yes, RVNL has consistently paid dividends in recent years.
Definitions:
– RVNL: Rail Vikas Nigam Limited, a company under the Indian Railways.
– NSE: National Stock Exchange, the leading stock exchange in India.
– Moving Averages: Calculation of the average price of a stock over a specific period of time.
– Dividend Yield: A financial ratio that shows the dividend return as a percentage of the current stock price.
– Market Capitalization: The total value of a company’s outstanding shares in the stock market.
– S&P BSE 500 index: An index that represents the performance of the top 500 companies listed on the Bombay Stock Exchange (BSE).
Suggested Related Links:
– RVNL Official Website
– National Stock Exchange (NSE)